If you are just waking up to the fact that Russia and Brazil are booming automarkets, don't feel bad. After all, over the last two years most of our attention has been focused on the free fall and survival of the GM, Chrysler and Ford. The other big story has been the massive recalls at Toyota. While all of that has played out, the growing potential in developing auto markets has not received as much attention.

The fact is, Russia is on pace to pass up Germany and become the largest auto market in Europe. Meanwhile Brazil, already the largest auto market in South America is on track to be the world's third largest by 2015. Add those two markets in with China, and you see why it is critical for the automakers to make sure they are major players in all three.